Life Technologies has hired bankers for the “strategic review” of its businesses, the company confirmed Friday, sending shares soaring.

The stock jumped 11% to $61.17 in recent trading, setting a new all-time high, clearing its previous high water mark by several dollars in the process.

In a short statement, Life, a biotechnology company with a $9 billion market cap, confirmed it has hired Deutsche Bank and Moelis & Co. for the “strategic review,” language typically taken by the market as a euphemism for a sale process.

The company said the board hasn’t “decided on any specific course of action.”

With the jump in shares, Life could be worth over $10.5 billion, which would be among the bigger deals recently. Coming at the same time as Dell Inc. continues talks with private equity firms over what could be a $25 billion buyout, a $10 billion-plus deal would be a welcome sign to M&A bankers sick of deals with only ten digits instead of 11.